Volvo Cars AB’s board has named Klaus Zellmer, 59, as the company’s next president and chief executive officer (CEO), succeeding Håkan Samuelsson, who is scheduled to step down next year.
Zellmer, who most recently headed Volkswagen AG’s Skoda Auto AS division as CEO, will take charge of Volvo Cars no later than October 1, 2027, the Swedish automaker said in a statement on Sunday.
Samuelsson and the board will work with Zellmer to ensure a “seamless” handover, the company said. Zellmer brings more than three decades of experience in the global automotive industry.
Volvo Cars Chairman Li Shufu said Zellmer has “a strong record of guiding organizations through transformation and changing market conditions.” He added that Zellmer’s background spanning both the premium and mass-market segments makes him “an excellent fit.”
Volvo Cars, majority-owned by carmaker Geely, Thursday unveiled a broad revamp that includes reshaping its manufacturing network around five plants dedicated to its namesake brand and two shared with partners. The overhaul, designed to help it navigate increasingly fierce competition, includes its biggest-ever product push.
Volvo Cars plans to introduce seven new vehicles for Western markets and six for by the end of the decade in a bid to double its slice of global sales of electric vehicles and plug-in hybrids from around 1.7% currently.
Samuelsson’s tenure at Volvo Cars
Samuelsson, 75, returned to lead Volvo Cars for a second term last year and has been working to restore growth at the European automaker after a difficult stretch. The company has faced several headwinds, including US trade tariffs, an ageing model range, underused production capacity and rising raw-material expenses.
During his latest tenure, Volvo Cars has placed greater emphasis on hybrid vehicles as demand for fully electric cars has grown more slowly than anticipated. The automaker has also moved towards tailoring its vehicle lineup to individual regions while expanding its collaboration with its Chinese parent company.
Samuelsson, who is due to leave the CEO position next spring, has said Volvo Cars is moving away from the strategy of offering largely identical global models to customers in Europe, China and the US, where consumer preferences and market requirements are becoming increasingly different.